*ALL* lending is being done at a 50-75% subsidized-risk discount off real market costs.... the 3.5% 30 FRM mortgage would normally be going for 7-8% if the taxpayers weren't being used as a backstop to eat the future defaults.Yeah, I got that. What I don't got is sources for 90% LTV jumbo (above maximum Fannie/Freddie loan limits for the applicable county) with no PMI. The only lenders I can identify that go to 90% LTV for jumbo are:~ Kinecta Federal Credit Union (ARMs only)~ Navy Credit Union ~ NASA Federal Credit UnionThey all require PMI--either lender or borrower paid--or 80/10/10.
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